On July 12, 2019, Veronica borrowed P100,000 and agreed to pay the interest at 7% compounded monthly. How much must she pay if she wanted to discharge this debt on April 12, 2020?
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- Heather owes Mark $10.000 payable on September 2021. If money can earn 12 %, what amount should Mark accept in settlement of the debt:A) 30 days before the scheduled payment?B) 90 days before the scheduled payment?On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on the loan was 7.75% and it is to be paid on November 15, 2020. What is the Ordinary simple interest using exact time?Beth borrows $7000 on September 20, 2019 at 12% monthly. What will she owe on March 17, 2021?
- On October 31, 2019, Strongman Samson borrowed P100,000.00 from Pretty Delilah subject to an interest rate of 6% per year until full payment. If Samson is able to pay both the principal and the interest on March 10, 2020, how much should Samson prepare in order to satisfy his agreement with Delilah?Charlie Chaplin borrowed P100,000.00 on October 31 2019 from Mr. Beans and the loan has an interest rate of 6 % per year until full payment. How much should Chaplin pay Bean on March 10, 2020 in order to fully satisfy the obligation?Kavish loans $15,000 to his business partner on June 1st, 2020. The terms of the loan state that interest of 5% compounded annually will be paid when the loan matures on May 31st, 2022. What is the amount of interest income that Kavish must report in each year from 2020 2022? Show your calculations.
- Jenna is expected to settle a loan on February 3rd, 2018 by paying $5,000. What amount should he pay if he decides to settle it on June 20th, 2017 instead? The interest rate is 1.88% compounded quarterly.Daniel is expected to settle a loan on March 24th, 2018 by paying $6,500. What amount should he pay if he decides to settle it on June 11th, 2017 instead? The interest rate is 5.46% compounded monthly.Margo borrowis 51700 , agreeing to pay it back with 48 annual interest after 11 months. How much interest will she pay?
- Dillion Savage decides to make semiannual $5000 deposits into an account that pays 5% compounded semiannually. If his first deposit is on January 1, 2021, then how much is in the account immediately after the deposit on January 1, 2030?1) Janet borrows $4,000 on October 20, 2020. If the simple interest rate is 12%, then how much needs to be repaid on May 11, 2021?On January 1, 2019, Joan Campbell borrows $20,000 from Susan Rone and agrees to repay this amount in payments of $4,000 a year until the debt is paid in full. Payments are to be of an equal amount and are to include interest at 12% on the unpaid balance of principal at the beginning of each period. Assuming that the first payment is to be made on January 1, 2020, determine the number of payments of $4,000 each to be made and the amount of the final payment.